Advantages and disadvantages of using cryptocurrency as payment for games and entertainment
21.02.2022
150 Views
In recent years, it has become more and more popular to use smartphones and tablets…
New age for online casino
Online casinos and online games have taken the world by storm since they made inroads on the internet just under 20 years ago. One can safely say that they are very popular with people, and more people of all ages are beginning to take an interest in this. The fact that we spend more time in front of the screen is perhaps one of the reasons, in addition to the fact that we humans have always had a small gambler in us (some bigger than others). Especially during these times of a pandemic that is ravaging the world, and we are forced to be more isolated than we like, extremely much time is spent online. It is used diligently in all homes for both work and leisure.
Since more people are taking an interest in online casino, the casino has had to keep up with developments, especially technological developments . We have seen in the last 5 years that there is a lot of focus on mobile casino since smartphone is very popular worldwide. Mobile casino is just one of the few fields online casino has focused on, but they have also focused on ways to make secure deposits and withdrawals to their casinos.
Revolution in payment method
When online casinos came on the market, it was mostly the regular bank cards VISA and Mastercard that were the first choice for many. Not long after, came the well-known wallets Neteller and Skrill (formerly Moneybookers), and a dozen others. The very latest on the market are deposits and withdrawals via cryptocurrency . Something that is much focused on right now due to the increased interest in this digital currency.
Over time, laws and regulations have also changed in this country. Making deposits and withdrawals with Norwegian bank cards or bank accounts is not as easy as before. Banks in Great Britain are now unfortunately not allowed to accept deposits or withdrawals that are gambling related, except for transactions from state-owned English Tipping. Then it is a blessing for many gaming-loving Norwegians that many online casinos can now offer transactions with cryptocurrencies.
Cryptocurrency casinos
With the increased interest in cryptocurrencies, especially Bitcoin, and the major changes in regulations, many popular online casinos have made steps so that we can use the funds we have via cryptocurrency to finance gambling.
For Norwegian players, you can today make a deposit by using our bank card, whether it is VISA or Mastercard. However, payment will not be made directly to the online casino, but via a third party. We buy cryptocurrencies from third parties with our bank cards, which then transfer the funds to our player account at the casino after an approved purchase. This process may sound more complicated than it really is. But the truth is that a deposit with cryptocurrency can be completed in less than 1 minute.
It is also important to mention that all transactions via cryptocurrency are anonymous, and this may be why many people resort to this method.
With crypto?
There are also online casinos that focus ONLY on cryptocurrencies. These casinos do not allow deposits or withdrawals via other payment methods. One also sees that the tendency of the bonuses at these crypto casinos is completely insane to say it in English. There are crypto casinos that offer welcome bonuses of up to 3BTC. There is no doubt that this is a very alluring offer considering the current value of BTC. But there are a few players who can make the most of this offer when you know that the current value of 1BTC is in excess of 40,000 US dollars, which is equivalent to approx. 400,000 Norwegian kroner.
For those who want to try their hand at a casino adventure with cryptocurrency, it is a good idea to check pages that show an overview of online casinos that offer payment methods with crypto. At nyecasino2020 and casinokrypto , for example, you will be presented with a list of the online casinos the sites consider to be the best when using cryptocurrency. Do not be surprised at how many online casinos you will find on the lists. Cryptocurrency has been on the market for a while, but it is only now in the last 2 years that online casinos have really focused on this payment method. Thus, the doors have been opened for crypto casinos, and they appear as fire in dry grass.
